The Disaster Tax Relief and Airport and Airway Extension Act of 2017 Section 503 was signed on September 29, 2017 to give tax relief to victims of Hurricanes Harvey, Irma, and Maria. This law includes an employee retention tax credit to assist employers that continued to pay wages to any employees displaced by inoperable work locations.
Oil and gas equipment fabricators conducting research and development activities, may qualify for and benefit from R&D tax credits.
Tax Point Advisors, an R&D tax credit expert, clarifies the Treasury Notice 2017-23 and the Payroll Tax Credit
The White House and Republican congressional leadership released a nine-page outline on September 27, 2017 to guide upcoming legislation on tax reform. This framework will help in configuring what will be an active, and likely debatable phase of tax reform.
Many taxpayers can take advantage of a ‘safe harbor’ or Research Credit Directive the IRS has just announced.
The IRS announced it was extending various tax filing and payment deadlines for those effected by the hurricane Irma.
When the PATH Act of 2015 was enacted by Congress, it made the R&D tax credit permanent. However, other tax incentive and credit programs were left to face an uncertain future, including the popular energy tax deduction, known as the 179D Tax Deduction.
Companies investing in creating new products in Illinois have been at a disadvantage since the valuable R&D tax credit program expired in 2015. Now that has all changed.
Tax reform is in the air. While we don’t yet know how it will play out, business owners should take note of the bipartisan support for an incentive to increase the productivity of U.S. companies in a wide range of industries—the R&D tax credit.
